It’s all kicking off – what can your business learn from the Euros?

It’s been nearly a month since the League ended and a couple of weeks since the European Cup final, so I can’t wait until the Euros kick off on Friday.

I’m particularly excited as I’m off to Bordeaux for Wales’s first game in a finals tournament since 1958 and then hoping to spend the rest of the month nipping back and forwards to France. (Of course, I might be coming home early and pretending it never happened!)

Aside from a month of football, we’ve been asking whether there are any lessons that business owners can learn from the Euros. And there are. So, here are our top six 

  • Are you a Manager or a Coach? There’s been a change in football management recently – for years the Manager was an autocratic figure, but these days Managers have become coaches, working with team members to identify strengths and fix weaknesses. Claudio Ranieri didn’t change many of the players at Leicester…..but totally transformed them as a team. At international level, where you can’t go out into the transfer market, this is even more important – you need to get the best out of the people available to you. As a business owner, you need to coach your team members to help get your business to where you want to be.
  • Vision and strategy – if you’re going to coach them to get where you want to be, you need to know where that is! Football managers might have a style of play, but you’ll have a way of doing things in your business. And a goal for the business as a whole. If you don’t have these, where are you headed?
  • It’s no good complaining – There will always be bad refereeing decisions, but you can’t change them. You just need to get on with it. It’s the same in business – you can moan about things that are outside your control (the government, the economy, your competitors, etc) but you need to take full responsibility for your business. Everyone has some doses of bad luck. It’s how you deal with it that decides whether you’re successful or not.
  • It’s not over until it’s over – Perseverance is key for footballers and business owners. I have been waiting all my life for Wales to actually get to a finals – after all, it’s been 58 years since their last appearance! It will be the same in the Euros – you can’t give in if you want your team, or your business, to be successful.
  • It really is all about teamwork. This Wales team has one superstar in Gareth Bale but its strength in qualifying has been the team ethic. Many of these players have been together for 10 years – 4 of the 10 youngest ever Wales internationals made their debuts in the mid to late 2000s and are all now in the squad for these finals. From one Wales Under-21 team in 2007, 9 of the starting 11 played in the Euro 2016 qualifiers. They have grown up together and really do work together as a team.
  • It’s the final result that matters – You probably remember who won the last Euros – Spain. But do you remember how they got on in their first game? A dull draw. We all make mistakes in our businesses on the way, but it’s how we react and learn from these that will lead to the end result. And it’s the end result that matters.

So, in between scouring the shelves at Tesco for a beer to represent each country, trying to fill my Panini sticker album, and actually watching the matches, I’ll also be looking out for more business lessons in the Euros. If you have any of your own, please let us know.

[And I’ve even got a hotel booked in Paris for the final…..just in case Wales get there!]

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If you’d like a meeting or a Skype call with a Liverpool accountant to discuss this, please give us a ring on 0151 380 3800 or drop us an email at [email protected].

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Added by Jon Davies
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